At Masterminds Integrated Concept LTD we appreciate that mining is a capital intensive business so we mostly structure our business with our buyers as F.O.B (Free On Board). .
This enables us to always have full control of our products till the agreed sum is paid after a delegated assayer from the buyer has performed his Q & Q (Quantity and Quality) test.
The demands for these metals are so high that we are only but scratching the surface of the market.
Our operations flow-chart below highlights the core areas of our business model
- Source materials from mines: This process involves our Purchase manager and geologist travelling to the sites where what has been ordered is being mined. Usually takes a period of up to 5days to conclude getting 100tons to loading point, if the terrain is not slippery due to rain. It also means we speak the language in our domain, we are also respected too.
- Move materials from mines to Buyer warehouse/Export Terminal: Masterminds Integrated Concept LTD has a memorandum of understanding with Cross Country(transporters) to move materials from which ever mine site to buyer warehouse/Lilipond terminal incase of FOB.
- Assayer Inspects and gives Q & Q Certificate: EYEVIEW INSPECTION LIMITED is our choice to help in doing his checks and the cost is borne by seller. Examples of other such assayers are Alfred Knight and SGS.
- Masterminds Integrated Concept LTD will use its export license and other necessary documents to help board the goods since the buyer is paying as soon as goods are on board (F.O.B). Or in situation we sell local then buyer pays via Telegraphic Transfer.
- Buyer makes payment: Mode of payment is stated out in the Contract, either by LC for FOB, preferably confirmed, Irrevocable or TT in which case we request some Cash in Advance if acceptable to the Buyer. Our contractual Agreements may stipulate for 95% payment once goods are released to the Buyer at the designated warehouse or Upon Loading on Vessel.
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